Question

Mark​ Gershon, owner of a musical instrument​ distributorship, thinks that demand for guitars may be related to the number of television appearances by the popular group Maroon 5 during the previous month. Gershon has collected the data shown in the following​ table:

                                                                                                          

Maroon 5 TV Appearances	33	44	66	66	99	66
Demand for Guitars	33	55	88	66	1111	77

This exercise contains only parts​ b, c, and d.

​b) Using the​ least-squares regression​ method, the equation for forecasting is ​(round your responses to four decimal

​places)​:

Y​ =

nothing

​+

nothingx

Answer 1

Based on the given data, we get the relevant parameters for finding the regression equation as:

For finding the equation, we solve below equations simultaneously

∑Y=na+b∑X

∑XY=a∑X+b∑X^2

Substituting and solving we get,

a = (-0.5938)

b = 1.2813

Hence, we get the equation as:

y = -0.5938 + 1.2813x

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